Sei Investments Co. Increases Stake in SPX Technologies, Inc. (NYSE:SPXC)

Sei Investments Co. lifted its stake in shares of SPX Technologies, Inc. (NYSE:SPXC) by 14.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,246 shares of the company’s stock after acquiring an additional 9,898 shares during the period. Sei Investments Co. owned 0.17% of SPX Technologies worth $10,979,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of SPX Technologies by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 5,173,939 shares of the company’s stock worth $637,067,000 after acquiring an additional 173,021 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of SPX Technologies by 17.4% during the 2nd quarter. Principal Financial Group Inc. now owns 520,416 shares of the company’s stock worth $73,972,000 after acquiring an additional 77,008 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of SPX Technologies by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 397,605 shares of the company’s stock worth $56,516,000 after acquiring an additional 8,931 shares during the period. Nordea Investment Management AB lifted its holdings in shares of SPX Technologies by 160.6% during the 1st quarter. Nordea Investment Management AB now owns 382,490 shares of the company’s stock worth $47,069,000 after acquiring an additional 235,720 shares during the period. Finally, Capital World Investors raised its holdings in SPX Technologies by 31.7% in the first quarter. Capital World Investors now owns 379,569 shares of the company’s stock valued at $46,736,000 after buying an additional 91,266 shares during the period. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Oppenheimer lowered shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

SPX Technologies Trading Up 0.6 %

NYSE SPXC opened at $159.00 on Friday. SPX Technologies, Inc. has a one year low of $77.84 and a one year high of $165.13. The company’s 50 day moving average price is $151.56 and its 200 day moving average price is $139.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.28. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.62 and a beta of 1.22.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.25 by $0.17. The firm had revenue of $501.30 million for the quarter, compared to analyst estimates of $492.08 million. SPX Technologies had a net margin of 5.53% and a return on equity of 19.20%. SPX Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. On average, sell-side analysts predict that SPX Technologies, Inc. will post 5.54 EPS for the current year.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.